perestroika

a set of political and economic reforms, or “restructuring,” that Soviet President Mikhail Gorbachev instituted during the 1980s. Accompanied by a policy of glasnost, or transparency, the reforms are largely viewed as having unintentionally helped usher in the end of the Soviet Union. Chief among the reforms was the transition to a more decentralized, traditional market economy, deeply opposed by many members of the Soviet elite.